Vietnam tuna finds market in EU after signing of European Union-Vietnam Free Trade Agreement
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Nguyen Quan
Published Jun 22, 2020
Europian Union (EU) is expected to eliminate tariffs on fresh and frozen tuna products as soon as European Union-Vietnam Free Trade Agreement (EVFT) agreement comes into effect. For tuna fillets, it is expected that the EU will eliminate tariffs for Vietnam in a 3-year schedule. For the import of canned tuna products, the EU will exempt Vietnam from the quota of 11,500 MT/year. The signing of EVFTA is expected to provide opportunities for Vietnam's tuna industry to expand and access markets. The agreement will help Vietnam's tuna products to have a tax advantage compared to other export countries like Thailand and China which are a direct competition of Vietnam. In addition, due to the impact COVID19 lockdown, the income of people in the EU has been effected. The trend of finding cheap alternatives such as canned or bagged tuna products will become more popular and preferable in future.
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